Weekend Reading – Banker On Wheels 100% Equity Paper Review In The Financial Times
Weekend Reading is a collection of Investment Research and Lifestyle topics from all corners of the Web. We source the highest quality insights from Wall Street and Main Street that you may apply to your investment process. Unlike the rest of Bankeronwheels.com, this series is provided without additional guidance. As usual, everything is to be used at your own risk. Below is the type of content we shortlist:
The investor is bombarded with staggering amounts of information, staggering amounts of stimuli that are designed to get the investor to buy and sell and trade, to do exactly the wrong thing, to create excessive profits for these intermediaries that aren't acting in the investor's best interests.
Featured
Hargreaves Lansdown Review – Cheapest Big 3 Broker For UK Buy & Hold Investors (Banker on Wheels)
We started broker reviews in the UK. More countries to follow. Today, let’s look at Hargreaves Lansdown. It projects an image of a premium, dependable service where no corners have been cut. In cycling terms it’s pitching you Trek or Specialized – big brand, high production quality. HL has everything you need to conduct a wide range of basic to fairly complex investing activities, but you’ll need to be smart to manage costs carefully, since these can be high versus competitors.
Portfolio Construction
Asset Allocation
Banker On Wheels Featured in The Financial Times !
If you haven’t read already, have a look at our article that has been picked up by the Financial Times this week.
Have a look why the Cederburg et al. paper’s recommendation can significantly reduce diversification for European investors, and why the way the study is designed should raise major concerns.
- Episode About 100% Equity Feat. Banker On Wheels article (risk parity radio)
- How Much Cash Should You Have In Your Portfolio? (Oblivious Investor)
- Show Us Your Portfolio: Bob Elliott (Excess Returns - 1 Hr 1 Min)
- The U.S. is not a standout when it comes to index concentration. (FT.Com, Click On First Link)
All-Time High A Good Time To Invest? No. A Great Time (cambria)
If there was a hall of fame for “horrible ideas,” you could make a strong case that Dick Rowe’s fateful decision in 1962 should be at the top. Rowe was the Decca Records executive who turned down a chance to sign The Beatles. Why, exactly? As the story goes, he said “the Beatles have no future in Showbusiness….” In the investment world, is there such a “horrible idea” equivalent?
Read more on Cambria
UNDERSTAND FINANCIAL MARKETS
The Trillion Dollar Equation (Veritasium)
The most famous equation in finance, the Black-Scholes/Merton equation, came from physics. It launched an industry worth trillions of dollars and led to the world’s best investments. Featured in this video – The Man Who Solved the Market: How Jim Simons launched the quant revolution by Gregory Zuckerman.
- Why the stock market 'doesn't look very bubbly' to Ray Dalio right now (Morningstar)
- Every market correction doesn't turn into a bear market. (A Wealth of Common Sense)
- Passive Investing has broken the Market? (Italian Leather Sofa)
- Why emerging market bonds have bested equities over the long run. (Morningstar)
Inflation Projections by Country, in 2024 (Visual Capitalist)
Global economic prospects hang on a delicate balance, largely hinging on the path of inflation.
While inflation looks to be easing, there remains the risk of a second wave of price pressures driven by geopolitical conflicts and supply disruptions in the Red Sea. Adding to this, a stronger than expected labor market could drive consumer demand, pushing up higher prices.
This graphic shows 2024 inflation projections around the world, based on forecasts from the International Monetary Fund (IMF).
Read more on Visual Capitalist
HOW TO INVEST
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Active Investing
FACTOR investing
discretionary investing
Japan’s Top 25 Corporations Are Worth a Combined $2 Trillion (voronoi)
Japan’s 25 largest corporations, as measured by market capitalization as of Feb. 2, 2024.
Cool facts
Mitsubishi UFJ Financial (MUFJ) is Japan’s largest financial group with nearly $3T in assets.
Recruit is an HR company that owns the job search engine, Indeed, as well as the employer review site, Glassdoor.
Japan Tobacco owns the rights to sell two well-known American brands, American Spirit and Camel, outside of the U.S.
Read more on voronoi
ALTERNATIVE ASSET CLASSES
In today’s episode, we dive into Tina’s teams’ recent piece about what they call a possible “once-in-a-generation opportunity” in emerging market local currency debt. Tina gives a great overview of the emerging market debt asset class, and then we dive into the reasons behind her team’s call. She shares why today is reminiscent of 2004 and how she thinks about things like liquidity panics and sanctions risk.
WALL STREET
Berkshire Hathaway - Annual Letter to Shareholders (Berkshire Hathaway)
Charlie Munger died on November 28, just 33 days before his 100th birthday.
Though born and raised in Omaha, he spent 80% of his life domiciled
elsewhere. Consequently, it was not until 1959 when he was 35 that I first met him.
In 1962, he decided that he should take up money management.
Three years later he told me – correctly! – that I had made a dumb decision in
buying control of Berkshire. But, he assured me, since I had already made the move,
he would tell me how to correct my mistake.
Read more on Berkshire Hathaway
SUSTAINABLE investing
BAD BETS
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ETFs
UCITS ETFS
Overview of the US and European ETF markets by leading Issuers. (ETFBook)
ETF Book Provided an updated overview of the US and European ETF markets by leading Issuers. US ETF market: AUM $7.96 trillion – European ETF market: AUM $1.81 trillion. iShares is leading in the US, but Vanguard is closing the gap. In Europe, iShares is much more dominant.
US ETFs
BlackRock is set to launch ten ETFs focused on Treasury inflation-protected securities (TIPS). Ranging in maturity from 2024 to 2033, these ETFs will seek to provide inflation protection to investors concerned with erosion of purchasing power. The new TIPS-defined maturity bond ETFs will carry an expense ratio of 0.1%. [ETF.com]
Wealth Management
Personal Finance
Capital Gain Taxes Rate in Europe (PBS)
An infographic showing the top capital gains tax rates on individuals in European countries for the year 2023. It’s a color-coded map of Europe where each country is shaded according to the tax rate, with darker shades representing higher rates. The graphic includes percentages for each country, their ranking, and notes explaining the conditions under which the rates apply.
Read more on PBS
Interactive Investor Review (Banker on Wheels)
Interactive Investor stands out as a great choice for UK investors with families, and looking for multicurrency accounts to reduce FX-fee frictions. However, advanced investors may find limitations depending on their sophistication and needs.
Is it suitable for you?
Early Retirement
In this episode, we’re joined by Christine Benz, Director of Personal Finance at Morningstar, who shares fascinating insights from her latest co-authored paper: The State of Retirement Income 2023. Listen now and learn: Motivations for safe withdrawal rate research, Nuances of the 4% withdrawal rule.
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As of 29/03/2024, Interactive Brokers offers rates up to 4.738% (GBP), 3.445% (EUR) and 4.83% (USD) on cash.
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As of 29/03/2024, Interactive Brokers offers rates up to 4.738% (GBP), 3.445% (EUR) and 4.83% (USD) on cash.
DESIGN YOUR LIFESTYLE
Personal Development
Health & Wellness
CAREERS & Entrepreneurship
Travel
Atlas mountain race 2024: vivid in black and white (Bikepacking.com)
Crossing Tusheti – A Bikepacking Adventure in Northern Georgia (Film) (Bikepacking.com - 28 Min)
Tusheti National Park in northern Georgia and its trails are better known among hikers, but Sabine Schipflinger and Henna Palosaari decided to try bike packing through it with full-suspension mountain bikes. “Crossing Tusheti” documents their 180km journey over the 3,000m high mountain passes, lush green meadows, pristine beauty, remote mountain villages and countless switchbacks.
Tech & Economy
economy
TECH AND SCIENCE
From Bankeronwheels.com
Get Wise The Most Relevant Independent Weekly Insights For Individual Investors In Europe & the UK
Liked the quality of our guides? There is more. Every week we release new guides, tools and compile the best insights from all corners of the web related to investing, early retirement & lifestyle along with exclusive articles, and way more. Probably the best newsletter for Individual Investors in Europe and the UK. Try it. Feel free to unsubscribe at any time.
🎁 In the first email, you can download a FREE comprehensive 2-page checklist to construct & monitor your portfolio and clean up your personal finances.
And finally
A world of languages (Visual Capitalist)
Today’s infographic from Alberto Lucas Lopez condenses the 7,102 known living languages today into a stunning visualization, with individual colors representing each world region.
Only 23 languages are spoken by at least 50 million native speakers. What’s more, over half the planet speaks at least one of these 23 languages.
Chinese dominates as a macrolanguage, but it’s important to note that it consists of numerous languages. Mandarin, Yue (including Cantonese), Min, Wu, and Hakka cover over 200 individual dialects, which vary further by geographic location.
Read more on Visual Capitalist
Good Luck and Keep’em* Rolling!
(* Wheels & Dividends)
Weekend Reading – BlackRock Launches New iBonds, Truth About €1M Broker Insurance & BOW is 4 years old!
The Truth About €1 Million Broker Guarantees
4 Things I Learned In 4 Years Of Running A Finance Blog
Dodl By AJ Bell Review – AJ Bell’s Younger Brother
Vanguard LifeStrategy Review – A Retriever In A Babushka Doll
Why Do Portfolio Managers Care About Factors? It’s Not What You Think.
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